Safe-living home built in Sudbury

Ontario’s first safer-living home, designed to withstand winds of 200 km-h, has been completed in Sudbury. Insured by The Co-operators, the house was built as part of the Designed…for safer living program, a partnership between the Institute for Catastrophic Loss Reduction (ICLR) and the Canadian insurance industry. The Co-operators funded the construction of the home […]

February 28, 2007 | Last updated on October 1, 2024
1 min read

Ontario’s first safer-living home, designed to withstand winds of 200 km-h, has been completed in Sudbury.

Insured by The Co-operators, the house was built as part of the Designed…for safer living program, a partnership between the Institute for Catastrophic Loss Reduction (ICLR) and the Canadian insurance industry.

The Co-operators funded the construction of the home to “better-than-building-code” standards, using special building materials and methods.

“It is incumbent upon us to do all we can to promote safer living,” The Co-operators president and CEO Kathy Bardswick said in a press release.

Quebec flooding raises 2024 NatCat losses to $7.6 billion

Claims

Quebec flooding raises 2024 NatCat losses to $7.6 billion

Flooding after Tropical Storm Debby passed through Montreal and nearby regions of Quebec in August caused $2.5 billion in insured damage, according to initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ).  The Aug. 9 and 10 catastrophe now ranks as the costliest insured event in Quebec’s history, says Insurance Bureau of Canada. “The record-breaking […]

By Alyssa DiSabatino | September 13, 2024

2 min read

Beat the clock: Update on the national flood program

Claims

Beat the clock: Update on the national flood program

Editor’s Note: This article has been updated to show remarks incorrectly attributed to IBC’s president and CEO Celyeste Power were actually the remarks of IBC chairman Christian Fournier. CU apologizes for the error.   Provincial politics and the timing of a federal election could possibly delay or derail the proposed national flood insurance program if […]

By David Gambrill | September 25, 2024

4 min read

Will reinsurance capacity be stable in Canada after record-breaking NatCat losses?

Claims

Will reinsurance capacity be stable in Canada after record-breaking NatCat losses?

Though 2024’s reinsurance renewal season started off stable compared to 2023, this summer’s record-breaking insured losses from four major Nat Cats will undoubtedly see growth in Canadian carriers’ reinsurance demand. But reinsurance supply may not grow commensurately, experts tell Canadian Underwriter. Beyond Canada, global insured Cat losses could be the factor that makes or breaks […]

By Alyssa DiSabatino | September 23, 2024

2 min read